SPONY was invited to give testimony to the RGB on Thursday, April 25th about the lack of sufficient rent increases, year after year, to help small owners. Members of the Board expressed an appreciation of the plight of the small owner. We can only expect higher guidelines if owners come out and testify. The Board voted last night (April 30th) for preliminary increases as follows:

For a one year renewal: range 3.25 to 6.25 %

For a two year renewal: range 5 to 9.5 %

The special guideline: greater of 30 % above the MBR or the HUD FMR.

The more owners that show up, the better our chances are for the highest increases possible. THIS IS YOUR BUSINESS. IF YOU DON’T TAKE AN INTEREST IN IT, WHO WILL?

Even if you can’t speak, come and support other owners by just showing up. This year there is only one day of public testimony. The Board has informed us that if you plan to attend the hearing on June 13th in the evening, you need to register by 7:00 PM in order to speak.

FUTURE RGB DATES TO MARK DOWN ON YOUR CALENDARS

PUBLIC HEARING Thursday, June 13th…starts at 10 AM, Emigrant Savings Bank Bldg., 49-51 Chambers St., between Broadway and Centre St.

This is the list of RGB hearings. The PIOC (Price Index of Operating Costs) just came in at 5.9% up from 2.8% last year. This should justify doubling last year’s guideline increase of 2% & 4%. This is your chance to be part of change. If you don’t take an interest in your business…who will? Join your fellow SPONY members and come to one or all of the hearings. All are equally important. If you want to testify, come on June 13th. You will have 3 minutes to tell the Board why you need an increase. Tell them about your real estate taxes, fines, and water & sewer bills. If you don’t think it makes a difference you are wrong. It does make a difference. If you don’t show up you are sending the wrong message. Let’s show them that Small Owners are the backbone of this City and provide the best quality affordable housing.